The Minister of Finance in the caretaker government, Youssef Khalil, issued two decisions to extend deadlines. The first decision states: "The deadline for submitting the annual declaration and the statement of the economic rights holder (Form M18) and the payment of tax for the year 2023 is extended until April 30, 2024, inclusive, for income tax payers on a real profit basis from individuals and partnerships, and institutions exempt from income tax that do not operate under the accrual basis in their accounting, as well as the deadline for submitting the annual declaration regarding amounts subject to the tax under Articles 41 and 42 of the Income Tax Law (Form G5)."
In the second decision: "The deadline for payment of tax, submission of annual declarations, and the statement of the economic rights holder (Form M18) for the year 2023 is extended until April 30, 2024, inclusive, for income tax payers on a presumed profit basis and for institutions exempt from income tax that do not operate under the cash basis in their accounting, as well as the deadline for submitting the annual declaration regarding amounts subject to the tax under Articles 41 and 42 of the Income Tax Law (Form G5)."
These two decisions are intended to provide taxpayers the opportunity to comply with this obligation and avoid penalties.
